FINANCIAL LITERACY IS CRITICAL TO STUDENTS', ECONOMY'S FUTURE
As just about everyone knows, today's financial climate can be a difficult and overwhelming one to negotiate. Credit cards, home loans, and saving for retirement are just some of the financial concerns that most adults deal with these days. I believe that educating our children today about the financial challenges they may face tomorrow will give them a better foundation for making sound financial decisions. Increasing financial literacy in our schools now will yield tremendous benefits for individuals and our economy as a whole in the future.
Recent studies have indicated that as personal savings have declined, personal bankruptcies have increased. This is a very disturbing trend, and one we must address immediately.
In an effort to increase awareness among students of all ages, organizations like the Jump$tart Coalition have been encouraging schools to take a month to focus on building financial skills. Several schools in our area including Cucamonga Middle School, Glendora High School, Monrovia High School, Rancho Cucamonga High School, and San Dimas High School have participated in programs sponsored by the National Council on Economic Education (NCEE) which seek to improve students' financial literacy skills through lesson plans and real world case studies.
These programs include "Financial Fitness for Life", a comprehensive personal finance curriculum that assists students from kindergarten to grade 12 to make better decisions on earning income and spending, borrowing, saving and investing. Another popular course, the "Credit Wise Teenager", is based on a module that illustrates basic economic principles through stories that are relevant to teens and their experiences.
Parents can also help build strong financial skills in their children by encouraging saving and responsible spending. As summer approaches, many kids will get that summer job they hope will pad their pockets with a little extra spending money. This year, with a little motivation from mom and dad, these kids can begin the process of becoming financially literate consumers who will be much more wise to the world when they have to start making decisions that affect their own future. A credit-wise and savings prone teenager is going to be much better employee, consumer, and provider.
